How to lower your Home insurance rates

A lot of people are of the idea of owning their own homes due to the increased house rents which greatly lower their monthly liquidity. Owning your own house can help you save extra cash monthly and can also be a source of regular income if you rent it out. If you are looking for home insurance, below are the instructions that will help you lower your monthly rates.  

·      Credit score. This directly impacts your home insurance interest rate. Having a high credit score will attract a low interest rate enabling you to save extra cash monthly while a low credit score will attract high interest rate. Make sure that you pay all your bills promptly so as to raise your credit score and also receive and keep all your billing information so as to boost your credit history. If you have a bad credit score, you can build by taking paying your credit card debts or any debts promptly. This will help you to get lower rates and save extra cash monthly.  

·      Discounts. There are a lot of insurance carriers offering house insurance policies at a lower price as a way of attracting new customers. If you cannot get a low interest rate with your credit score you can look for such insurance carriers.

·      Multiple line insurance. If you are holding any type of insurance policy like car or life insurance and the same carrier is offering house insurance then it is good to insure your house with the same insurance carrier. Having multiple line insurance is the best and simplest way of lowering your house insurance premiums since you can easily bargain for a discount. You will get a discount since you are customers and you can also take advantage of your good record in making payments to get a discount.       

·      Deductibles. A deductible is a huge cash lump sum that you make to reduce the balance that you are supposed to pay for your home insurance. This will not directly lower your interest rate but by reducing the balance you reduce the amount of monthly premiums that you are supposed to make. This will make it easier for you to manage the premiums and also increase your monthly liquidity.

·      Paying your monthly premiums. Ensure that you make all your monthly payments in full amount and on time. There are some people that complain of their home insurance rates being raised all the time. This is because they are not making prompt payments. Making monthly payments will enable you keep the rates constant and also give you a chance to bargain for discounts.  

·      Modify your house. There are certain devices and gadgets that have been listed by insurance companies to increase the security of your home. Fitting them in your house will not just improve the security but also earn you low home insurance rates to save you extra cash. Some of them include an alarm system, surveillance cameras and a perimeter wall or any good fence.